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We are a venture capital firm focused on Brazilian startups. We back entrepreneurs seeking to transform the country through technology, partnering with founders at the first venture capital round (seed or Series A) and supporting them throughout their growth.
There is a meaningful funding gap at the very early stages in Brazil. No investor is fully focused on it and entrepreneurs unduly suffer because of it. Filling this gap is the opportunity Canary is focused on. We believe the first round is the best time to start a long-term relationship with a founder, especially in a young startup ecosystem like Brazil.
We believe our ecosystem is at a tipping point. The quality of founding teams is already world-class and improving at an accelerating pace, the entrepreneurial mindset is permeating universities and younger generations and our nation’s top talent is founding companies rather than looking for traditional jobs.
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Latin America’s startups are beating old and new Covid bureaucracy with legaltech
Contxto – If citizens in Latin America have a government-related issue to address, they have to jump through plenty of bureaucracy. To make matters worse, Covid-19 has put administrative offices in a fix. Social distancing means people can’t be cramped into waiting rooms as per their usual annoying protocol. In that sense, officials are sprinting […]
Kestraa wants to move import-export processes onto the cloud with US$2.7 million round
Contxto – Behind every imported product you own, multiple stakeholders were involved as were dozens of emails and at least one person pulling their hair out. To save everyone some stress, Brazilian Kestraa recently raised R$15 million (US$2.7 million). Round participants included Canary and angel investors. The logistics startup will use the funds to snag […]
Oico raises US$1.5 million to rebuild construction materials market, enters Y Combinator
Contxto – Where there’s a disjointed industry, there’s a business opportunity. And for Brazilian entrepreneurs, Pedro Dellagnelo and Pedro Rocha, the construction materials market still had a big brick and mortar approach in need of updating. And amidst the pandemic, they launched their marketplace Oico and with four months of operating, it’s already closed an […]
Caju closes US$2.5 million to disrupt employee benefits programs in Brazil
Contxto – Flexibility is a flavor investors always crave and they just sunk their teeth into a piece of cajú (that’s Portuguese for “cashew”). Yesterday (5) news broke that fintech Caju raised R$13 million (~US$2.5 million) in a seed round co-led by Canary and Valor Capital. Other participants include angel investors like Ariel Lambrecht (co-Founder […]
Edtech Classpert closes US$965,000 looking to boost content before Covid bonanza ends
Contxto – Even prior to the coronavirus outbreak, Iporanga Ventures had seen potential in edtech Classpert and its online content. “Our meeting with Classpert started just before the pandemic, when the scenario was still different. We already liked the company in a regular market context, and the pandemic accelerated sales even more,” says Leonardo Teixeira, […]
Healthtech iClinic closes Series B with SoftBank to scale SaaS solutions
Contxto – Looking out for the little guy has brought a big investor to a Brazilian healthtech’s table. Yesterday (23), news broke that SoftBank made an investment in iClinic. The value of the Series B round was undisclosed. But the startup did say it plans to scale as well as wrap up a few M&As. […]
PackID closes US$196,000 to protect temperature-sensitive cargo in Brazil
Contxto – The logistics industry continues to be riddled with pain points for startups to solve and investors to fund. In this case, cargo stakeholders often lose their investment when temperature-sensitive goods. Animal products or medicine often suffer environmental changes and are rendered useless… or worse. So to help these products and their owners “keep […]
Fintech in Uruguay 2020 (beta)
Contxto – Talk about overachievers. Uruguay has often been proven that big things can come in small packages. But, could it be that country’s fintech industry is the exception that proves the rule? Perhaps unsurprisingly for a country with a market size just shy of 3.5 million people, Uruguay has a small selection of fintechs. […]
Canary, Norte Ventures, and angels invest US$1 million in Rapicare
Contxto – Coronavirus has exposed not just our physical wellbeing. It’s also revealed the weaknesses within healthcare systems and supply chain. Case and point are small-sized clinics who are scrambling to stay provisioned. To add some efficiency and transparency to the process, Brazilian logistics startup Rapicare recently closed a seed investment for R$5 million (~US$1 […]
Canary leads US$938,000 investment in adtech Mobees
Contxto – Brazilian Mobees is mixing mobility and tech to give drivers an additional source of income. No, not through a ride-hailing platform mind you, but via publicity. By giving marketers an opportunity to advertise more, Mobees recently raised R$5 million (~US$938,000) in an investment round led by Canary. A group of 20 angel investors […]